MONTGOMERY COUNT*. 3675

above guaranty, such liability for each county shall be in such proportion
as the assessable basis of that part of either county within the Sanitary
District bears to the assessable basis of the whole of said District. Said
Commission may in its discretion purchase and cancel the present out-
standing bonds issued by authority of Chapter 313 of the Acts of 1916
out of the funds derived from any issue of bonds under this Act.

1918, ch. 122, sec. 6.

995. For the purpose of retiring the bonds authorized to be issued
by this Act and the payment of the interest thereon, there shall be levied
against all the assessable property within said Sanitary District, by the
County Commissioners of Montgomery and Prince George's Counties, an-
nually, so long as any of said bonds are outstanding and not paid, a tax
sufficient to meet the interest on said bonds as it becomes due, and to pay
the principal thereof as they mature, said tax to be determined, levied, col-
lected and paid over in the following manner: At least thirty days before
the tax levying period of each year, the respective County Commissioners
shall certify to the Sanitary Commission the whole valuation of assessable
property within the Sanitary District. Said Sanitary Commission shall
then determine the amount necessary to be raised for the ensuing year for
the payment of interest and proportionate part of principal of all out-
standing bonds, the amount to be paid on the principal of said bonds in
any one year to be determined by the usual table of redemption of bonds
by annual deposit in a sinking fund on interest, and after deducting all
amounts in hand applicable to payment of interest and principal on said
bonds, as hereinafter provided, it shall determine the number of cents per
$100 necessary to raise the said amount and shall so certify to each Board
of County Commissioners. The said County Commissioners in their next
annual levy shall levy said tax on all land and improvements and any
other property assessed for county tax purposes within said Sanitary Dis-
trict, which tax shall be levied and collected as county taxes now are or
may be hereafter by law levied and collected, and have the same priority
rights, bear the same interest and penalties and in every respect be treated
the same as county taxes. The tax so levied for the ensuing year shall be
collected by the respective tax collecting authorities, and every sixty days
they shall remit the whole amount of the tax so collected to the said Sani-
tary Commission. From the money so received, together with the amount
in hand to the credit of said bond fund, said Sanitary Commission shall
first pay all interest on said bonds as it matures, and shall then deposit in
some bank or banks in one or both of said counties to the credit of the
County Commissioners of both Counties and said Commission, as a joint
fund to be known as the "Sinking Fund Account," the amount so raised
for payment of the principal of said bonds. Said Commission and the re-
spective County Commissioners, shall, from time to time, invest said
sinking fund in any bond or bonds in which savings or trust funds are
authorized to be invested by National Banks by the U. S. Treasury De-
partment. Should receipts from said tax or other sources be inadequate to